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Andhra Pradesh
SMEC office in Hyderabad
Our Bureau
Hyderabad, Oct. 5 The Small and Medium Enterprises Consortium (SMEC), promoted by Non-Resident Indians (NRIs) in the US, announced the opening up of their office in Hyderabad today and the appointment of Mr Chennuri V. Subba Rao, to oversee operations here.
According to a statement from SMEC, the consortium now has over 60 companies and is set to become a 200-member group within two months.
They are in the process of negotiations with the Andhra Pradesh Government to set up an IT Park.
Recently, the SMEC delegation was in Hyderabad and met with the Chief Minister, Dr Y.S. Rajasekhara Reddy, and other Cabinet Ministers and held discussions on the proposed plans for setting up an IT Park near Hyderabad.
Investment plans
The Chairman of SMEC, Mr Mahender Musuku, and his group had announced plans to invest Rs 2,500 to 3,000 crore to create an integrated SME campus near Hyderabad, which would have the potential to provide jobs to about 25,000 people.
The State Government had agreed in principle to support SMEC by offering necessary infrastructure and other facilities. The SMEC is now in the process of developing a detailed project report (DPR) to build a campus, a business district, residential complexes, educational institutions and related infrastructure. The report is likely to be submitted to the Government.
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